Hotels Stepping Up New Inventory Pace

While the seller’s market is undoubtedly here to stay for a while, Lodging Econometrics’ mid-year report is forecasting increasing growth in new hotel inventory, up to a 2.8 percent increase in gross supply by 2008. More than 1,000 new hotels, including 131,517 new rooms, are expected to come online in 2008. This shows a steady growth in hotel inventory, from 1.6 percent last year, to 1.9 percent in 2006, and a projected 2.6 percent growth in 2007. However, while new construction in the